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Classified in: Business
Subjects: PDT, SVY

Fairstone Bank of Canada Releases its First ESG Report

Fairstone's inaugural ESG report underscores its commitment to ESG and responsible business practices

MONTREAL and TORONTO, March 27, 2023 /CNW/ - Today, Fairstone Bank of Canada and its subsidiary Fairstone Financial Inc. (hereinafter collectively "Fairstone") released its first Environmental, Social, and Governance (ESG) report, which outlines its approach and performance in sustainable development.

Fairstone's 2022 ESG report is a comprehensive review of its environmental, social and governance approach and covers its operations and impact on society and the environment. The report includes an overview of Fairstone's governance, environmental and social framework, and a description of its ESG priorities according to five pillars ? empowering employees, supporting customer's growth, building alongside communities, protecting shared value and reducing operational impact. The report provides transparency and demonstrates performance on relevant ESG topics that create meaningful value for Fairstone's stakeholders, including employees, customers, investors, and local communities across Canada.

"We are pleased to release our inaugural ESG report and share our commitment to ESG as an integral part of the well-being of our people and our ability to better serve our customers and the communities in which we operate," said Scott Wood, President and Chief Executive Officer, Fairstone.

The report highlights Fairstone's latest achievements in promoting diversity and inclusion, employee wellness, calculating its carbon footprint, and supporting its local communities. It also outlines Fairstone's pledge to develop its ESG quantified targets, including its ambition to reduce and further measure its operational impact in future years.

"As a responsible corporate citizen aiming to drive sustainable growth, we are committed to integrating the ESG factors that we identify as a priority to our business and stakeholders into our operations. The publication of our first ESG report is an important step forward to demonstrate our dedication in achieving meaningful and valuable sustainable business practices," shared Mr. Wood.

To read Fairstone's ESG Report and achievements made in 2022, view the complete report here.

About the Company

Fairstone Bank of Canada ("Fairstone Bank") and its subsidiary, Fairstone Financial Inc. ("Fairstone"), form a leading consumer lending group. Fairstone Bank and Fairstone provide innovative financial services that enable Canadian consumers and businesses to achieve their goals. Collectively, Fairstone Bank and its subsidiaries offer credit cards and rewards programs, point-of-sale financing through merchant partners, automobile financing via dealerships, and unsecured and secured personal loans and mortgages online and at over 245 Fairstone branches coast to coast. With a long-established Canadian history, Fairstone Bank and Fairstone are committed to improving the lives of Canadians with value-driven and accessible financial solutions.

More at: www.Fairstone.ca and www.FairstoneBank.ca

SOURCE Fairstone Financial Inc.

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